Aman Gupta on the future of Indian startups: Why now Is the best time to build
Aman Gupta, Co-founder and CMO of Boat, shared his insights on why now is the best time to build a business in India. He highlighted the shifting mindset towards entrepreneurship, the crucial role of government support, and the importance of taking risks early.
The Indian startup ecosystem has undergone a remarkable transformation in recent years, with entrepreneurship emerging as a mainstream career choice for young innovators. At the Vejalpur Startup Festival 2.0, industry leaders and investors, including Aman Gupta, Co-founder and CMO of boAt, shared insights on the evolving business landscape, government support, and the rise of young entrepreneurs.
Speaking to YourStory’s Shivani Muthana, Gupta said “Earlier, business was seen in a negative light, and most people preferred stable jobs. Today, we see a massive shift, with students fresh out of college choosing to build startups rather than pursuing corporate careers."
Gupta cited the example of Zepto, an ultra-fast grocery delivery startup founded by two 21-year-olds, to illustrate how young entrepreneurs are disrupting industries. “At 21, most of us were unsure about our careers, but today’s youth are launching multi-million-dollar businesses,” he remarked.
The role of government in supporting startups
A key factor in India’s startup boom has been government support and pro-business policies. Gupta acknowledged the impact of initiatives like Make in India, the PLI (Production-Linked Incentive) scheme, and funding programs for MSMEs and startups.
“Earlier, we were scared of bureaucrats. Today, the government is approachable and actively supports startups. The introduction of policies promoting local manufacturing and financial incentives has been a game changer,” he said.
Gupta recalled his entrepreneurial journey, explaining how his company transitioned from manufacturing overseas to producing 65% of its products in India, thanks to government initiatives. “From 0% made-in-India products in 2016, we now manufacture most of our portfolio domestically. The ecosystem is rapidly evolving, and it’s the best time to start up,” he said.
Encouraging young entrepreneurs to take risks
Gupta emphasised that there is no ideal age to start a business. He encouraged aspiring entrepreneurs to focus on execution rather than overanalysing risks. “50% of the challenge is just starting. The older you get, the harder it becomes to take that leap due to financial and family responsibilities. Start as soon as you can,” he advised.
He also acknowledged the fear of failure as a major deterrent. “I have had five failed businesses before finding success. People remember success, not failures. Every failure teaches you something, and one big win outweighs multiple setbacks,” he said.
The future of Indian startups
With India emerging as a global startup hub, Gupta is optimistic about the future. “Today, Indian brands dominate sectors that were once ruled by foreign companies. Consumer preferences have changed, and there’s immense support from investors, policymakers, and the industry,” he noted.
He also urged entrepreneurs to network, learn, and adapt to the fast-changing business landscape. “Attend events, interact with investors, and be open to feedback. The startup revolution is just beginning, and those who take bold steps today will shape the future of Indian entrepreneurship,” he concluded.
As India continues to cultivate its startup ecosystem, industry leaders like Aman Gupta believe that young entrepreneurs, strong policies, and evolving consumer behavior will drive the next phase of innovation and economic growth.